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First-Class Logbook Loans in Topsham

Enquire Online Today! - 10 Apr 2020

logbook loans Topsham

Logbook Loans Topsham


Looking for quick cash? Topsham logbook loans are for you

Topsham logbook loan quotes

You can carry on driving your car and borrow anything up to £50,000 by lending against your vehicle. Providing there is no finance on you car your loan can be approved and money arranged in as little as 24 hours!

Topsham Logbook Loans are an increasingly popular way of securing a loan as there are no hoops to jump through or embarrassing credit checks. Have you applied for and been declined a loan in the past? You may have found the very answer you’re looking for.

The funds you borrow can go towards anything you like too... why not clear some outstanding debts, spend the money on a new holiday or anything else you like. Logbook Loans give you complete flexibility.

Free quotes: No cost, risk or commitment is necessary with your free logbook loan quote. Discover how much you could borrow today!

Refused loans? If you’re frustrated at other loans declining your applications then you might be in luck with a Logbook Loan as they are very accessible!

Keep driving: Not only do you get to borrow the agreed amount, but you can carry on driving the vehicle for the entire loan period!

Apply easily online: The online Topsham Logbook Loan quote application process couldn’t be easier and won’t take more than a minute.

Your money to spend: Your loan is yours to spend however you like, so whatever your reason for wanting a loan you have complete control.

Loans that suit you: All situations are different, so why not get in touch to discuss the very best lending option for your circumstances?

It’s easy to apply for your Topsham Logbook Loan too, just use the online form on this page to tell us a little about yourself and your vehicle, shortly after you will be contacted direct by a loan provider who can arrange your free Logbook Loan quote.

Apply online today to discover just how much you could borrow against your car with Topsham Logbook Loans.

logbook loans for older cars

Older Car? Get a Logbook Loan

Many people visit our site having had a previous loan application refused against their car due to age. Typically most Topsham logbook lenders will restrict the maximum lending age to 8 years, however we base the loans (anything from £400 to £50,000) on the value of the car so age isn’t as important. To find out if your car is eligible for a loan then simply choose your make and model on the form above and see how much you could lend today!

loans against classic, vintage and prestige cars in Topsham

Borrowing Against a Classic or Prestigious Vehicle

Topsham owners of more classic or prestigious cars have often asked whether their cars are eligible for a V5 loan... and the answer is yes! If you are the owner of a Maserati, Rolls-Royce, Bentley, Ferrari or any other prestigious or classic car model then the same process still applies. Your borrowing is based up on the value of your car so subject to eligibility and affordability you could qualify for a loan.

no credit check Topsham logbook loans

No Credit Check Logbook Loans?

This is actually a misconception, brought about by the fact that this type of loan can be more attainable than a standard loan as a vehicle is used as security during the repayment period. In fact all applicants are credit-checked when applying. You could well be eligible to take out a loan against the value of your vehicle even if you have a less than perfect credit score, making these types of loans very popular.

loans for self employed in Devon

Are the Self-Employed Eligible to Borrow?

If you’re in Topsham and self-employed then you probably already know how difficult it can be to get a loan of any sort as most Devon lenders want to see regular guaranteed income to cover payments. Using your vehicle as security means you might still be eligible for a loan as it reduced the risk to a lender. It’s important to remember though that as part of responsible lending you still need to prove to the lender that you can cover the payments.

Topsham business v5 loans

Can My Business Get a Loan?

While not all lenders can provide them, it may be possible for you to obtain a logbook loan for your Topsham business. If the company car is registered in your name, you can enquire about a business logbook loan just as you would a personal one. What’s more, if the company’s name and your name are the same, and if the company vehicle is registered in the company’s name, some lenders may work with you. Ask your individual lender to be certain.

£400 to £50,000 - Example Amounts

You can lend from £400 up to £50,000 with a V5 loan... or up to 80% of your vehicle’s current market value. Such a large borrowing range covers most lending requirements. To get an idea of the amount you could borrow with your car’s market value look at the table below:

Value of Car % Loan Loan Total
£500 80% £400
£1000 80% £800
£1500 80% £1200
£2000 80% £1600
£5000 80% £4000
£10000 80% £8000
£20000 80% £16000

Devon Logbook Loan Calculator

Use this useful calculator to show a loan amount of up to 80% of your car’s value. Simply use the sliders to adjust the amounts.

7000
80%

£5600

FAQs About Topsham V5 Loans

If you’ve got any questions about Topsham logbook loans then you may well find the answer in the list of FAQs we have compiled below. If not then please get in touch via our form and we’ll happily advise further.

How Logbook Loans work - V5 Loans explained

A logbook loan is a type of secured lending where a borrower transfers ownership of their vehicle, to the lender as the security for the loan. How much Topsham residents can borrow depends on just how much their car is worth; some Devon lenders can let you borrow up to 80% of what the car will fetch in the current market, however, terms and conditions normally vary from one loan lender to another. While making the repayments, you get to keep possession of your car and continue using it. When the loan is fully repaid, you regain ownership of your car.

What documents will the provider need?

The process of enquiring for a loan is simple, but you’ll need to make sure that you have all the right documentation. You will need a photo ID as proof of identity, your V5 document for proof of ownership, a copy of your current insurance policy, a recent utility bill in your name to prove your Devon address, a current MOT, and either a bank statement or recent payslips to show that you have the income required to successfully repay your loan.

Why opt for Topsham Logbook Loans?

Unlike other types of loan, the requirements needed for borrowing against your vehicle are minimal. You simply need to meet a few requirements; that is, you must be of the legal age, and own a car (or have very little finance remaining) which you can offer for collateral. If you meet this criteria and live in Devon, you are free to apply for this type of loan. So long as you are the car owner, you may be able to obtain the loan even if you’ve a history of default. The amount of money you can borrow normally depends on the value of the car you’re using for security. Also, if you’ve finance on the car already, some Topsham loan lenders might still lend you some money, so long as the car is worth more than what’s owed on it.

Can the unemployed secure a Logbook Loan?

Topsham individuals who are unemployed and also have a bad credit score usually have fewer choices when it comes to securing a personal loan. This is because of the fact that during the loan application process in most of the conventional loan lenders, one has to be employed with proof of income, and also a credit record check has to be done. With loans secured against a vehicle, unemployed people in Devon might still be considered for the loan, however, as part of responsible lending, the logbook lender has to assess the loan applicant so as ensure that they are suitable to lend money to.

Does my poor credit score affect my Topsham loan application?

A poor credit score normally means refusal for any other type of Devon loan, however when looking at these type of loans you may find that it is easier to be accepted even with bad credit history. Using your car as security for the loan means the lender is facing less risk and so they are more likely to lend against your vehicle. You will still undergo a credit check, but the outcome will not always mean refusal. Apply online today to find out!

Is it a problem if I can’t prove my income level?

In order to qualify for Topsham logbook loans you need to be able to prove that you can afford the monthly repayments. Responsible lending means that Devon V5 lenders will not offer you a loan unless they are certain that repayments can be made. This is to avoid you going in to arrears and risking losing your car. If you can’t prove your income then get in touch today to discuss your options and see if you’re eligible for a V5 document loan.

Is it my responsibility to maintain the car?

When you get a loan, your lender provides you with funding based on the value of your car. Your car becomes collateral that the lender can possess to recoup its losses in the event that you default on loan. Because of this, it is your responsibility to continuously carry insurance on that car, to have it serviced, and to have regular MOT checks. All of these things help to maintain your car’s value, which is important to the lender. If something should have a significant impact on your car’s value, you should always report this to your lender as soon as possible.

Do V5 Loans show up on HPI checks?

V5 loans should show up on any HPI checks, and are displayed as a Bill of Sale agreement. However, this isn’t always the case. In case you conduct the HPI check, and follow the purchasing guideline, then you’ll be protected by the HPI guarantee in case it turns out that there’s a V5 loan against the vehicle.

How long are the repayment terms?

The length of repayment available for car v5 loans includes; 12 months, 18 months and 36 months. These repayment terms offer you adequate time so that you can make budget friendly repayments every month. The interest is charged on a monthly basis and you will not incur extra charges by paying off the loan early. In fact, it’s better to repay in advance, since by doing so, you will end up repaying much less overall in terms of monthly loan interest.

We hope these answers to our most frequently asked questions have helped, but if you have any further questions you can hear from an advisor direct by simply completing the short form you can see above. Get in touch today to find out more.